Fredun Pharmaceuticals Ltd — Updates, 03-07-2025: Company Update

Fredun Pharmaceuticals has disclosed receipt of a SEBI Adjudication Order concerning past non-compliance with listing regulations related to financial reporting, auditor peer review certification, audit committee quorum, corporate governance disclosures, and incorrect certification of corporate governance applicability. The company acknowledged delays and errors, attributing some issues to honest mistakes or interpretation errors and noted corrective actions taken, including appointing a peer-reviewed auditor from FY 2023-24. Despite violations, SEBI found no material misstatements or market impact, and no monetary penalty was imposed due to lack of disproportionate gain, investor loss, and past penalties for similar issues.